Is the housing slump impacting ASX listed real estate small caps? Stockhead analysis has found only a third of ASX real estate small caps have made gains so far in 2019.

The top seven of these are all real estate developers, having returned an average of 20 per cent to date in 2019.

However, only one of these has made substantial gains. Velocity Property Group (ASX: VP7) has gained over 90 per cent this year.

The only news out of the company was a mere estimation of its net profit after tax for the most recent half year — expected to be $1m-$1.5m.

Six real estate stocks are down by 10 per cent or more.

Two of these are China-connected stocks — Lionhub Group (ASX:LHB) and Boyuan Holdings (ASX:BHL), down 20 per cent and 38 per cent respectively.

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